• Q3 was marked by a decline in network activity on the EOS network.
• Despite the steady fall in EOS’ price, the futures market continued to see positive funding rates.

Delegated proof-of-stake (DPoS) Layer 1 (L1) blockchain EOS Network [EOS] saw a decline in network activity and revenue between July and September, Messari found in a new report. 

Is your portfolio green? Check out the EOS Profit Calculator

In the report titled “State of EOS Q3 2023,” the on-chain data provider found that the quarter was marked by a general decline in ecosystem growth metrics for the L1 network.

It was quiet on EOS

According to Messari, EOS recorded an average daily transaction count of 800,000 during the period under review. This represented a 6.3% decline from the 900,000 recorded in daily transaction count between April and June. 

Messari further found that on 20 July, daily transactions on EOS rallied above 5.5 million, surpassing the year’s previous high.

Interestingly, there was no corresponding spike in active address count on the same day, causing Messari to opine that the surge in transactions count was “likely anomalous.”

Regarding addresses that completed transactions on the blockchain within the period under review, EOS registered a daily average count of 28,000 addresses, a 5% fall from the 29,000 daily average witnessed in Q2.

Moreover, the cumulative count of unique active addresses on EOS in Q3 was 212,000, declining by 39% quarter-over-quarter (QoQ). However, despite this sh

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Author: Abiodun Oladokun

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